Size matters? Yes, and it goes the other way around- the smaller, the better. Mini bag is the new arm candy on spring 2012 runway:
The beauty of a lady:

Dolce and Gabbana Spring 2012 Runway picture from vogue.com
Another ladylike mini from Miu Miu:

Miu Miu Spring 2012 Runway picture from vogue.com
Pirate girls over the China sea:

Jean Paul Gaultier Spring 2012 Runway picture from vogue.com
Welcome a Mulberry summer:

Mulberry Spring 2012 Runway picture from vogue.com
The stunning pink:

Valentino Spring 2012 Runway picture from vogue.com
Anyone’s expecting a Chanel parcel?

Chanel Spring 2012 Runway picture from vogue.com
Chloe’s guide to a nice tan:

Chloe Spring 2012 Runway picture from vogue.com
Check mate:

Jil Sander Spring 2012 Runway picture from vogue.com
Modern graphic:

Carolina Herrera Spring 2012 Runway picture from vogue.com
Jewel bag:

Alberta Ferretti Spring 2012 Runway picture from vogue.com
Shades of blue:

Giorgio Armani Spring 2012 Runway picture from vogue.com
In the Versace Sea:

Versace Spring 2012 Runway picture from vogue.com
I do think this is a mini bag other than an iphone case, but I could be wrong:

Hermes Spring 2012 Runway picture from vogue.com
Marc Jacobs’s boxy style:

Marc Jacobs Spring 2012 Runway picture from vogue.com
Everything’s better in 3-d:

Marni Spring 2012 Runway picture from vogue.com